$1.2 Billion in Sandy Losses Paid, Allstate Pursuing Rate Hikes

February 7, 2013

  • February 7, 2013 at 2:35 pm
    Agent says:
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    So the rest of the country will be getting the hikes from the losses on Sandy. I guess they will have to write a bunch of that Esurance business to make up for their losses. Sorry Allstate agents in the Sandy area. No bonuses this year because of Loss Ratio.

  • February 7, 2013 at 2:55 pm
    homeowner says:
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    My house payment went up $106/mo. last yr due to insurance increase. I renew this March, and I expect another substantial increase. How many times do they think we can have our house payments increase by $100+/mo. each year before we have to sell out??

    • February 7, 2013 at 4:48 pm
      SellOut says:
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      You stuck with a company that gave you a $1200 increase on your homeowners? “Are you in Good Hands?”

      Do yourself a favor and find a local broker who represents more than one company to get you multiple quotes.

      • February 8, 2013 at 9:10 am
        homeowner says:
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        I am with a local broker. The increase would have actually been nearly $200/mo., but the cheapest was $106/mo. increase so we changed. We are new homeowners (past 2 yrs) and did not expect these kinds of increases.

        • February 8, 2013 at 9:50 am
          Agent says:
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          Homeowner, are you with Allstate through a local agent or an Independent Agent representing other companies. If you are with Allstate, they are a captive company with only one market for Homeowners. I don’t know what state you are in, but your rate increase seems excessive to me. Even in Texas, we have fairly high rates due to Wind & Hail exposure, but we still don’t see rate increases of the magnitude you describe. We generally hand Allstate their head on accounts with decent credit and few problems.



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